Parent Company Financial Statements

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Statements

Parent Company Financial Statements

The condensed financial statements of German American Bancorp, Inc. are presented below:

CONDENSED BALANCE SHEETS

	December 31,
	2017			2016
ASSETS
Cash	$	24,777		$	10,217
Securities Available-for-Sale, at Fair Value	353			353
Investment in Subsidiary Bank	342,054			322,138
Investment in Non-banking Subsidiaries	5,050			4,673
Other Assets	8,906			9,577
Total Assets	$	381,140		$	346,958
LIABILITIES
Borrowings	$	11,231		$	10,975
Other Liabilities	5,338			5,716
Total Liabilities	16,569			16,691
SHAREHOLDERS’ EQUITY
Common Stock	22,934			15,261
Additional Paid-in Capital	165,288			171,744
Retained Earnings	178,969			149,666
Accumulated Other Comprehensive Income (Loss)	(2,620		)	(6,404		)
Total Shareholders’ Equity	364,571			330,267
Total Liabilities and Shareholders’ Equity	$	381,140		$	346,958

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

	Years Ended December 31,
	2017			2016			2015
INCOME
Dividends from Subsidiaries
Bank	$	25,000		$	15,000		$	15,900
Non-bank	975			1,000			1,504
Interest Income	34			20			30
Other Income (Loss)	25			(27		)	21
Total Income	26,034			15,993			17,455
EXPENSES
Salaries and Employee Benefits	533			1,006			500
Professional Fees	602			1,096			739
Occupancy and Equipment Expense	7			13			8
Interest Expense	877			742			491
Other Expenses	794			750			657
Total Expenses	2,813			3,607			2,395
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	23,221			12,386			15,060
Income Tax Benefit	1,415			1,284			893
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	24,636			13,670			15,953
Equity in Undistributed Income of Subsidiaries	16,040			21,514			14,111
NET INCOME	40,676			35,184			30,064
Other Comprehensive Income:
Changes in Unrealized Gain (Loss) on Securities, Available-for-Sale	4,391			(10,202		)	932
Changes in Unrecognized (Loss) in Postretirement Benefit Obligation, Net	(138		)	(14		)	(10		)
TOTAL COMPREHENSIVE INCOME	$	44,929		$	24,968		$	30,986

CONDENSED STATEMENTS OF CASH FLOWS

	Years Ended December 31,
	2017			2016			2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$	40,676		$	35,184		$	30,064
Adjustments to Reconcile Net Income to Net Cash from Operations
Change in Other Assets	431			2,085			(5,331		)
Change in Other Liabilities	(122		)	310			1,226
Equity Based Compensation	1,246			1,407			963
Excess Tax Benefit from Restricted Share Grant	240			200			89
Equity in Excess Undistributed Income of Subsidiaries	(16,040		)	(21,514		)	(14,111		)
Net Cash from Operating Activities	26,431			17,672			12,900
CASH FLOWS FROM INVESTING ACTIVITIES
Cash Used for Business Acquisitions	—			(15,992		)	—
Net Cash from Investing Activities	—			(15,992		)	—
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of Long-term Debt	—			—			(4,000		)
Issuance (Retirement) of Common Stock	(29		)	55			49
Employee Stock Purchase Plan	—			—			447
Dividends Paid	(11,842		)	(10,630		)	(9,010		)
Net Cash from Financing Activities	(11,871		)	(10,575		)	(12,514		)
Net Change in Cash and Cash Equivalents	14,560			(8,895		)	386
Cash and Cash Equivalents at Beginning of Year	10,217			19,112			18,726
Cash and Cash Equivalents at End of Year	$	24,777		$	10,217		$	19,112